DEMAND NOTE
United Realty Trust Incorporated 10-Q
Exhibit 10.22
DEMAND NOTE
This Demand Note Payable on Demand (the “Note”) is made and effective March 31, 2015,
| BETWEEN: | United Realty Trust Incorporated (the “Lender”), a corporation organized and existing under the laws of the State of Maryland, with its head office located at: |
| 00 Xxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 | |
| AND: | United Realty Advisors, LP (the “Borrower”), a limited partnership organized and existing under the laws of the State of Delaware, with its head office located at: |
| 00 Xxxxx Xxxxxx, 00xx Xxxxx, Xxx Xxxx, Xxx Xxxx 00000 |
FOR VALUE RECEIVED, the undersigned Borrower promises to pay to the order of Lender the sum of Five Million Three Hundred Thirty Two Thousand Three Hundred Twenty Six and No/100 Dollars ($5,332,326.00), together with interest of one and one-half percent (1.5%) per annum on the unpaid balance. The entire principal and any accrued interest shall be fully and immediately payable UPON DEMAND of Lender thereof.
Upon default in making payment within seven (7) days of demand, and providing this note is turned over for collection, Borrower agrees to pay all reasonable legal fees and costs of collection to the extent permitted by law. This note shall take effect as a sealed instrument and be enforced in accordance with the laws of the state of New York. All parties to this note waive presentment, notice of non-payment, protest and notice of protest, and agree to remain fully bound notwithstanding the release of any party, extension or modification of terms, or discharge of any collateral for this note.
[Signature to follow]
IN WITNESS WHEREOF, the undersigned has caused this Demand Note to be duly executed as of the date first written above.
| BORROWER: | |||
| United Realty Advisors, LP, | |||
| a Delaware limited partnership | |||
| By: | Xxxxx Xxxxxxx | ||
| Name: | Xxxxx Xxxxxxx | ||
| Title: | Authorized Signatory | ||
| STATE OF NEW YORK | ) |
| ) ss.: | |
| COUNTY OF NEW YORK | ) |
On the 31st day of March, 2015, before me, the undersigned, a Notary Public in and for said State, personally appeared Xxxxx Xxxxxxx, personally known to me or proved to me on the basis of satisfactory evidence to be the individual(s) whose name(s) is (are) subscribed to the within instrument and acknowledged to me that he executed the same in his capacity(ies), and that by his/her/their signature(s) on the instrument, the individual(s), or the person upon behalf of which the individual(s) acted, executed the instrument.
| Xxxx Xxxxx | |
| Notary Public | |
